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The Right Way of Social listening for SaaS businesses

A walk through of how Xoxoday's marketing team went about choosing the right social listening tool - a learning applicable for all SaaS businesses.

July 6, 2020
by
Shubhamoy Halder
@Xoxoday

The Right Way of Social listening for SaaS businesses

The Right Way of Social listening for SaaS businesses

In the earlier days, not long after social media giants had captured world ‘attention, millennials and businesses were still exploring their way in the new social environment. Millennials got busy posting about their life in general and companies shared their latest offers, discount programs to their communities. In communication terms, focus was on posting i.e. speaking and not really on listening. But the world of social soon transformed into a platform just like conventional media. Corporate houses didn’t just use them to engage with their communities, Facebook, Twitter, Instagram and the likes became a world in their own where individuals and businesses started interacting seamlessly. People begun sharing their feedback and companies started listening to them to improve their services. So, what exactly is this social listening?

What is Social Listening?

A brand is no longer what we tell the consumer it is, it is what consumers tell each other it is” Scott Cook

In clinical terms, Social Listening is the process of tracking conversations centered around your brand, competitors or industry as a whole and analyzing these conversations to gain actionable insights. The same can done for individuals such as personalities, actors, singers, etc. 

It is different than monitoring which has been around for a while now. Monitoring tells you what whereas listening provides you insights which can be put to action on the ground. A restaurant chain replying to unsatisfied customers on social is achieved through monitoring but analyzing data on these customers to unravel which dish on the menu is responsible for the most unpleasant feedbacks and the geographic region home to those kinds of feedbacks, that is listening.

But, is that the end of story? Certainly not, if you can find and dig deep into bad feedbacks, then you can also find a whole lot about your audience, basically listening gives you an idea of who you’re catering to? And there’s more, you get to know what industry-related topics your audience speaks the most about, which trends do they hop onto, what do they truly want and how you can enhance their experience i.e. customer journey and communicate effectively.

Value of Social Listening

In terms of a competitive advantage listening provides not just one but on 5 key metrics. These metrics are essential irrespective of the nature or size of any business:

  1. Brand Health
  2. Competitor Analysis
  3. Audience Insights
  4. Event/Campaign Monitoring

Brand Health

A plethora of listening tools are available and some of these have a built-in feature which directly shows you your brand health, if not you can always track your brand as a keyword for social and web mentions. Almost all of these tools have a built-in feature called Sentiment Analysis. It shows the positive, negative and neutral mix of the mentions. Any Brand Manager can make a fair guess about their brand health with the help of this data.

Competitor Analysis

A major feature of any social listening tool is the competitor analysis. Here you can add your competitors to get their social media posts and campaign notifications. Knowing what your competitor is doing is always crucial when you are talking about industry related topics and trending themes. It gives you an idea about the tone of conversation and what more can be added to the same. 

Audience Insights

Maybe the most important aspect about social listening. You are introduced to your audience, you get to know where they live, which social platform are they most active on, whether their posts skew more towards positive sentiment or is it the other way around, who are the influencers in our audience who can be approached to spread our ideas and which topics resonate the most with our audience. All this is covered by Audience Insights.

Event/Campaign Monitoring

Stumbled upon a great campaign, well most of the tools are equipped with a see first or favorites section where you can regularly check updates for a trending campaign. You can also track your own campaigns and monitor them for actionable insights and leads.

Listening for SaaS based Businesses

The B2B Marketspace especially the SaaS (Software as a Service) sector can benefit a lot from Social Listening. There is a misconception about Social Listening amongst a lot of B2B brands who consider it as a black hole in terms of ROI, we’ll make sure to deliver the facts so that you don’t feel the same. If we talk in respect of the key metrics discussed earlier, there is a lot of value left to be unearthed here.

These days, customers and critics aren’t shy to call out bad experiences on social platforms, if left unchecked, they can quickly become a concern which is particularly painful for any B2B brand’s reputation. You need to look out for the competition too which can try social poaching to get a slice from your pie.

The Social is here to stay, and the rising trend of companies socially engaging their audience isn’t going anywhere in the near future. So, why not get a head start by paying some close attention?

Moreover, listening isn’t just about talking to your existing customers or audience, it’s about finding new ones as well. Find people who are talking about the same topics as you are, find people who are following the same conversations as you are, find people who are interacting with the same type of content as you are because it’ll take lot less of an effort to convert them to a promising lead.

And lastly, not just listen better but engage better too. Focus on the tone, what competitors really talk about, where is the line between business language and personal touch. This analysis will help setup better social media campaigns and posts which rank higher on the relevancy scale. 

How ‘YOU’ can go about Social Listening?

At first, a listening might seem a bit heavy to handle. But it gets a lot easier if you have a clear idea about your requirements, your expectations from Social Listening with respect to performance. There are always business specific needs but some general ones could be better to start the story, why not take a look at ours when we first started:

  1. Track keywords/competitors across social and web channels (Social and Web listening)
  2. Historical mentions (past conversations)
  3. Ability to engage to web and social posts from the tool itself
  4. Ability to publish and automate postings
  5. The tool should be able to track a healthy number of mentions, not all topics/keywords will be common in nature
  6. A healthy mix of social and web mentions

We tried many tools before making our final selection. Most of these come with an option of free trial run such as Mention, Hootsuite, Sprout Social, BuzzSumo, Keyhole, Awario, etc. 

We evaluated tools according to how well they fulfilled our requirements and whether they were easy to setup and operate. The following is a comparison between different tools: 

Challenges Encountered

Every listening tool is unique on its own. Tracking of mentions, channels available, nature of reports, etc. actually change from tool to tool. Even the initial setup and procedure for integration with official social accounts differs sometimes.

  1. Demo vs Paid Listening

Listening is a premium feature which is not always available in the unpaid version. Social Media Management Tools such as Sprout Social have Listening as a paid/add on feature. But their marketing/sales team will always be happy to give you a demonstration of the same.

Moreover, there are tools which are only built to listen, the story becomes a lot predictable in the case Mention, Keyhole, Awario, etc. where you can get hand-on experience of using listening in the unpaid version alone.


  1. Setting up alerts/keywords

Most of the tools available track mentions using keywords which you provide. Albeit, you may find limitations on number of keywords allowed or a mention count limit which is not uncommon. The catch is to find the one which provides relevant mentions at a lower cost. These limitations are mostly present in started packs and for a good majority, you won’t find such limits or restrictions in the professional or enterprise plan.


  1. Cost Comparison

Tools may vary greatly in terms of prices. For instance, the starter pack of Mention costs around $29/month, you get only 2 alerts, 3000 mentions and only one team member can access. In a similar manner, Awario’s starter pack costs the same i.e. $29/month, but you get 3 alerts, 30k mentions and 3 members of your team get to access the tool.


  1. Mention Mix

You’ll soon find that, any listening tool is great at capturing Twitter Mentions, in the initial runs around 80% of the mentions can be from twitter alone but the same results are not there for other social channels. This is due to the fact that Twitter has the least API restrictions, but the same cannot be said for others such as Facebook. But still, from the available lot only you need to find the tool which delivers the best mix of mentions.


  1. Non-Social or Web Mentions

There are only a handful of tools out there which provide non-social or web mentions. It’s not a deal breaker, but if you are a SEO Manager looking to beef up your rankings on Google SERP then it might be one. Web mentions provide us relevant blog sources where you can comment, post and also collaborate with bloggers who talk about the same topics as you do. This is directly related to a robust link-building strategy which is one of the keys to rank higher in searches.


  1. Targeting Efficiency in the Long Run

If you don’t tweak your keywords, you’ll soon exhaust your mention limit. For most of the tools, the mention limit is for a whole month, but some of the tools churn out somewhere between 5k-10k mentions per hour for common keywords. A helpful tip, use long tail keywords, better if they are under exact match criteria. This will greatly reduce the pace by which the tool scours for mention across the web. Take all the help you need from Google Keyword Planner and focus on getting lesser but relevant mentions, you’ll always need the extra ones to track competitors.

You can use the following parameters to compare different tools in the initial phase.

Parameters

The parameters we chose to compare the above tools:

  1. Publish: Can we publish and automate postings?
  2. Social Mentions: Can we track conversation and keywords on social media?
  3. Web Mentions: Can we track keywords on websites, blogs and forums?
  4. Historical Mentions: Can we track older social/web mentions?
  5. Engagement: Can we like/follow/comment from the tool itself?
  6. Searches: Can we track conversations containing our keywords and topics?

In addition to the above, user experience, initial setup and operation were also taken into account. 

In terms of costs, each tool had a different set of parameters based on mention count, number of users with access, etc. But overall, we focused on three major parameters:

  1. Number of mentions
  2. Number of keywords/alerts/topics available
  3. Number of users


Observation

We did a trial run for all the tools mentioned above and spent a chunk of time on selected ones i.e. Mention, Locobuzz and Awario. These three tools checked out most of our requirements but came with their own set of limitations. For instance,


  1. Mention

The tool is quite easy to setup and operate. The only major flaw, it doesn’t provide historical mentions and can only show posts from the time we start tracking mentions. 

Also, available mention count is low as compared to its counterparts


  1. Locobuzz

Another tool which checked out all our requirements but came with a major limitation. The tool lacked the feature of tracking keyword related conversations on Facebook, it was unable to provide a healthy mix of social and web mentions, also it was difficult to operate and required constant assistance from the support team. 


  1. Awario

The only drawback is we cannot post, schedule or automate our social/web postings. But on other parameters, Awario performs better as compared to its counterparts, it provides a healthy mix of social and web mentions, available mention count is high and the tool is easy to setup and operate without a constant need of assistance.

Result

We finally picked Awario as it suited best to our needs and requirements. We were able to enhance relevancy with the help of long tail keywords and also pause and resume tracking according to our will. Following are some of the main pointers which helped us choose Awario over other social listening tools:


  1. Historical Mentions

We can track as well as filter mentions according to custom time periods across social and web channels


  1. Healthy Mix of Mentions

Awario churns out a good proportion of web mentions (around 40% of total LT keyword mentions) which is sometimes quite low for other tools (around 5-10%). Also, we can pause social/web tracking whenever we need to.


  1. High Mention Count

Awario provides 30K mentions in its starter pack (29$/month) which is quite high whereas Mention tool only provides 5K mentions in its starter pack at the same cost.


  1. Scope of improving efficiency

With the help of exact match long-tail keywords, we were able to bring drive relevancy and prevent exhaustion of our mention limit. There is still potential to bring further efficiency with the help of other match types, better keyword research and tracking sources relevant to us. 

For instance, in the country filter, use Greenland to stop tracking as there is close to zero mentions from the region.

Another interesting filter is to sort mentions according to account followers or likes. Surely, to get the maximum out of your engagement efforts, you need to engage with those posts or pages which already enjoy a huge following. With Awario, it is easy to filter out those mentions. Moreover, blog and website mentions come with traffic data and influence score which makes it easier to find relevant mentions.


What we really do with Awario?

For now, we use Awario to listen to industry related topics relevant to us. For instance, Empuls is our employee engagement tool and the same topic we track across social and web channels using Awario. With the help of this tool, we are able to find relevant social posts and blogs where we engage to drive traffic to our website and blog page. 

It also opens up avenues to collaborate with relevant bloggers which can help drive even more traffic towards us and help us improve our domain authority.


Results

Below are some of the results which we got a month after incorporating social listening to our overall social media marketing plan (source: Acquisition, Google Analytics)

Social

With the help of listening and overall social media marketing efforts, we were able to perform on some key metrics. According to the above chart, more than 100% new users came to website as well as blog page from social sources, the same is reflected in number of sessions.

Referral

In a similar manner, our website registered a healthy number of users from web sources with substantial increment over the previous month.

Verdict

For now, Awario best fulfills our general as well as business specific needs, but it’s entirely possible that you end up with a different one. This is in no way a recommendation for Awario Tool, but a piece which chalks out the importance of Social Listening for most of the businesses and individuals out there. The journey is for an individual like you who can take practical inputs which will come handy when it’s time to search and find an ideal tool.


“Brand is just a perception, and perception will match with reality over time” Elon Musk

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